Problem 6-02A a, b1-b2, (Video) Bramble Distribution markets CDs of the performing artist Unique. At the beginning of October, B...ble had in beginning inventory 2,000 of Unique's CDs with a unit cost of $5. During October, Bramble made the following purchases of Unique's CDs. Oct. 3 2,500 $6 Oct. 93,500 @ $7 Oct. 193,000 @ $8 Oct. 25 4,000 $9 During October, 10,800 units were sold. Bramble uses a periodic Inventory system. Determine the cost of goods available for sale. Cost of goods available for sale LINK TO TEXT Calculate cost per unit. (Round answer to 2 decimal places, e.g. 2.25.) Cost per unit $ uy tiyan 2) the cost of goods sold under each of the assumed cost flow methods (FIFO, UFO, and average cost). (Round answers to decimal places, e.g. 1,250.) FIFO LIFO AVERAGE-COST The ending Inventory $ The cost of goods sold LINK TO TEXT Which cost flow method results in (1) the highest inventory amount for the balance sheet and (2) the highest cost of goods sold for the income statement? produces the highest inventory amount, $ (2) produces the highest cost of goods sold, $ Click if you would like to Show Work for this question: Open Show Work VIDEO SIMILAR PROBLEM CALCULATOR FULL SCREEN PRINTER VERSION Problem 6-03A a, b1-b2, (Video) Bonita Company had a beginning inventory on January 1 of 200 units of Product 4-18-15 at a cost of $20 per unit. During the year, the following purchases were made. BACK at Mar, 15 July 20 430 units 220 units $22 $24 at Sept. 4 Dec. 2 at 300 units 100 units $25 $29 at 1,035 units were sold. Bonita Company uses a periodic inventory system. Determine the cost of goods available for sale. The cost of goods available for sale LINK TO TEXT VIDEO: SIMILAR PROBLEM Calculate average cost per unit. (Round answer to 3 decimal places, e.g. 1.250.) Average cost per unit $ Determine (1) the ending Inventory, and (2) the cost of goods sold under each of the assumed cost flow methods (FIFO, LIFO, and average cost). (Round answers to decimal places, c.g. 1,250.) FIFO LIFO AVERAGE-COST The ending inventory $ The cost of goods sold LINK TO TEXT Which cost flow method results in (1) the highest inventory amount for the balance sheet, and (2) the highest cost of goods sold for the income statement? results in the highest inventory amount, $ (2) produces the highest cost of goods sold, Click if you would like to Show Work for this question: Open Show Work PRINTER VERSION 4 RACE waterway uses the periodic method for inventory. Problem 6-05A al-a3,b (Video) You are provided with the following information for Waterway Inc. for the month ended June 30, 20. Unit Cost or Date Description Quantity Selling Price June 1 Beginning inventory 42 $38 June 4 Purchase 139 41 June 10 Sale 105 72 June 11 Sale retum 17 72 June 18 Purchase 54 44 June 18 Purchase return 10 June 25 Sale 67 72 June 28 Purchase 32 47 Calculate cost per unit. (Round answer to 2 decimal places, e.g. 5.25.) Weighted-average cost per unit $ LINK TO TEXT Calculate ending inventory, cost of goods sold, gross profit under each of the following methods. (1) LIFO. (2) FIFO (3) Average-cost. (Round average-cost method answers 2 decimal places, e.g. 1,250.25 and other answers to o decimal places, e.g. 1,250.) Wilsons. CALCULATOR FULL SCREEN LACE NEXT IFO. (2) FIFO. (3) Average-cost. (Round average cost method answers to Calculate ending inventory, cost of goods sold, gross profit under each of the following method 2 decimal places, e.g. 1,250.25 and other answers to o decimal places, e.g. 1,250.) LIFO FIFO AVERAGE COST The ending inventory The cost of goods sold Gross profit LINK TO TEXT Calculate gross profit rate under each of the following methods. (1) LIFO. (2) FIFO. (3) Average cost. (Round answers to 1 decimal place, c.0.51.29.) LIFO FIFO AVERAGE-COST % Gross profit rate LINK TO TEXT are the results for the three cost flow assumptions and answer the following questions. Compare the results for the three cost flow assumptions and answer the following questions. gross profit. In this period of rising prices, gives the highest cost of goods sold and the gives the lowest cost of goods sold and the gross profit. Click if you would like to Show Work for this question: Open Show Work